Fintech co Perfios acqui-hires open finance platform Fego.ai: report

Bengaluru-based fintech firm Perfios has acqui-hired Chennai-based open finance platform Fego.ai. As a part of the agreement, Fego's 30-member team is joining Perfios. Fego co-founder S. Kumar Srivatsan will lead the product and business unit, while S. Kumar Srikanthan, the other co-founder, will be part of the strategy team. Established in 2020, Fego offers an open-finance product stack to developers, with its application programming interface (APIs) enabling companies to connect users' financial accounts, enrich customer experience and understand financial behaviour of its users for use-cases across lending, know-your-customer, collections and wealth. Perfios, which offers financial and data analysis software and tools, besides lending solutions for small and medium businesses, recently raised a USD 229 million Series-D round led by Kedaara Capital.